Miami Mayor Francis Suarez, a prominent crypto advocate, remains unconcerned about the recent volatility and dip of Bitcoin (BTC) below $100,000, stating he is still significantly "up" on his salary received in the cryptocurrency.
Key Points from the Interview
- Significant Gains: Speaking to Fox Business, Mayor Suarez stated he was initially paid in Bitcoin when the price was around $30,000. He claims that despite the recent dip, his holdings are still up by approximately 300%. He noted that the return was as high as 400% when BTC reached $120,000.
- Long-Term Focus: Suarez dismissed "everyday market swings," emphasizing his focus on the macro impact of Bitcoin as a store of value with a transparent, code-based money creation system. He is more concerned with the evolution of decentralized finance, crypto, and AI than with daily price tracking.
- Bold Policy Move: Mayor Suarez made the bold commitment to take his first paycheck 100% in BTC in November 2021, making him one of the first US lawmakers to do so. This move was part of his broader effort to position Miami as a crypto hub.
- Timeline Inconsistency: The article notes a potential discrepancy in the Mayor's recollection of the price, as BTC was trading around $64,000 in November 2021 when he announced the salary move. However, the Mayor has clarified that he already owned BTC and Ether (ETH) and publicly supported crypto as far back as December 2020.
Ultimately, Mayor Suarez's perspective highlights a focus on long-term adoption and fundamental value over short-term market fluctuations.
November 2025, Cryptoniteuae